Mark D

Leveraging Up on Precious Metals Ahead of Fed Meeting

Reread your analysis before you post Andrew. In one breath you say that copper companies made money when mining costs were 60 cents/lb and they sold it for 80c/lb. OK - a profit of 20/60 or 33%.
Then you say their mining costs now are up to 1.50/lb while selling around $4.00 - that's up to $2.50/lb profit and you conclude THAT is why the miners have been hit hard. Even if they are only getting $3/lb that's a 100% gross profit/lb or 3X the old 60c/80c rate... SO what you are saying is completely illogical - makes no sense at all. I think miners are being hit hard for other numerous reasons...margins are better EVER.